It's all politics at this point and the local unions will fight this tooth and nail. They've allowed foreign pilots in, on and off on visas since the pilots strike of the late 80's.
I wouldn't get too excited, there's plenty of guys/girls slogging it out flying in god forsaken parts of Australia, that the airlines could employ but choose not to.
What's changed now is that the Chinese are paying ridiculous amounts of money and poaching Captains from Virgin, Tiger and Jetstar. Can't really blame them when you'll earn around Au$200k and pay Au$80-90k in taxes, in Australia.
If it was that good, I wouldn't have come back.